FASB ASC 450 addresses accounting for loss contingencies, including those that represent a right to proceed against an outside party in the event that the guarantor is called upon to satisfy the guarantee-for example, a guarantee to pay the debts of another entity. Search the FASB ASC database to determine the requirement for reporting or not reporting such guarantees. Then search for a FASB interpretation (FIN) that was issued to clarify this issue. Cut and paste your findings and, in your own words, write a summary of what the findings mean.